Electronically deliver allocations to drive trade-day confirmation and accurate trade capture.
MarkitSERV Services
An important focus of the OTC derivatives industry is to achieve electronic confirmation on trade date. Targets for eligible products are being set for each asset class. This initiative introduces a level of complexity for firms that trade at the aggregate "block" level and subsequently allocate the trade across multiple funds.
Solutions need to address:
timely electronic allocation delivery to counterparties. Today, many firms still deliver allocation details via spreadsheets.
manual entry processes: This results in mis-bookings that slow confirmation turnaround.
MarkitSERV supports electronic allocation delivery for a variety of product types and workflow requirements.
MarkitSERV offers direct integration with dealers’ risk systems via our industry-recognized confirmation platform. By placing allocations into the dealer’s front office flows, MarkitSERV helps you reduce the possibility of human error and decreases turnaround time.
Clients can enter allocation details directly or upload a simple allocation file via the MarkitSERV portal.
For clients interested in automation or control procedures, MarkitSERV Trade Manager offers a matching workflow that performs a block tie-out prior to allocation delivery. Your trade details are matched against dealer-entered block trades. Trade Manager highlights exceptions if differences occur, or delivers allocations directly to the confirmation service and auto-affirms the trade.
Buy-side firms can review or match on independent amounts provided by dealers prior to confirmation.
Electronic allocation delivery and legal confirmation can occur in separate steps for clients who prefer to complete the confirmation process separately (whether a multi-step review process or an alternate platform).
